2023 1124 - LIFE180 / Chris Kirkpatrick - Indexed Universal Life (IUL) 101 Reaction - [FFL]
- Ethos
- 4 - cash flow - coi - 1 premiums - 2 buckets
- Chris - art - term insurance - 50s-60s-70s- coi skyrockets
- 7 - As long as you pay you premium
- 8 - Whole vs IUL - IUL is not a Whole Life Product
- 8 - cash value bucket - 1)
- 9 - FFL - most iuls are being purchased as an investment
- 10 - Chris / FFL - Minimum Premium, Minimum Funding, Target, Guideline Level Premium, Expectations - Target = Agent Commissions, Overfunding the Target Premium, Annuities vs IUL, same / different, Policy Performance, Levers, company's obligations to policyholders / shareholders [Bonk: Dinallo], Underperformance, Illustrations, You can't lose money in the IUL. Yes, you can. not compliant, caps, uncapped,
- 11 - IUL vs Indexed Annuity
- 12 - Obligations of company - Mutual vs Stock
- 13 - You can't Lose Money in an IUL
- 15 - Chris - [Bonk: P1P2] - How IUl's Work -
- Caps, Options
- 19 - Chris - People aren't going to know that they have a problem until it's too late.
- 20 - Can't lose money on down years - Ex.
- Loans -
- 21 - Chris - Need to add in all the fees, cois
- 15 - Chris - How IUL's Work.
- 19 - Chris - the challenge for people / retirees will come in 20-25 years.
- 20 - can't lose. no gain, no loss. just even.
- Chris - loans are the problem
- 23 - locking in gains
- 24 - Chris - Performance, Long-term, doesn't know what she doesn't know. I used think how she thinks, I used to believe what she believes. Representing a lie. representing big IUL company.
- 25 - Chris - These guys know nothing about Whole Life Insurance.
- 26 - Guy - Can't lose money. Tax-free Retirement. Confuse clients. tax bill. taxes.
- 26 - FFL - most IUl's are sold for retirement.
- 27 - Chris - Wheels fall of using for retirement.
- 28 - FFL - Loophole = Policy Loan
- 28 - Chris - it's not a loophole, it's the tax code, mislead people
- 30 - FFL - Policy loan arbitrage,
- 30 - Chris - Ethos - Express Issue Policy - Ameritas, car to win, higher coi,
- 32 - ffl - iuls built to self sustain
- 32 - Chris - ag49 - multipliers, PacLife, lawsuits, illustration warfare,FBI, Vapone, actuaries poke holes in regulation, realistic, unrealistic illustrations, history of iul, sad to see,
- fold like origami - [Bonk: walker vs lsw - defects], too simplistic, [Bonk: Tom Sutton, Pacific Life] - gov
- 35 - don't pay back loans / death - arbitrage
- 36 - language - too simple -
- 37 - LIRP Example -
- 38 - Chris - age 75 - loans / taxes / "properly structured" - are they dumb, naive, intentionally selling it, borderline criminal,
- 40 - ffl - cash value pays for the death benefit - don't get cash value - [Bonk: SIV / CIV]
- 41 - Simple - College Funding - screaming home run,
- 43 - Chris - sold as simplistic, marketing of IUL, replacing 401ks, the blind leading the blind,